Dominic Solanke is set to join Liverpool from Chelsea after his contract expires with the Premier League champions in June.
The 19-year-old is a developmental player so will not be allowed to move for free, with a tribunal likely to price the move around £3 million.
Solanke was also wanted by Bundesliga runners-up RB Leipzig and Scottish Premiership winners Celtic, but instead chose to sign for Jurgen Klopp's side.
The forward is Liverpool's first signing of the transfer window, having spent the last 13 years at Chelsea, working his way up through the youth ranks.
Solanke gained first-team experience on loan at Vitesse in the 2015-16 season, scoring seven times in 25 Eredivisie appearances.
However, he never made a Premier League appearance for the Stamford Bridge, only playing one competitive match for the Blues. That brief cameo at the end of the 6-0 Champions League win over Maribor made him Chelsea's youngest ever player in the Champions League, but he failed to break into the squad after setting the record.
In February, Chelsea manager Antonio Conte confirmed that Solanke was likely to leave the club amid rumours that the Reds were interested.
"For now he is at Chelsea, I don’t know about his future," Conte told reporters.
"Is he leaving? I don’t know, I think this is his will. I have spoken with him to try to understand his will. It is normal. We must have a great respect for every decision. His contract expires in June and he has the full will to stay in Chelsea or to go away."
Solanke is expected to earn £20,000 a week at Anfield, and will likely feature in Liverpool's Under-23 side before being promoted to the senior squad.